| 1 |
If the cash sales are missing they are to be ascertained by the construction of. |
- A. Debtors account
- B. Creditors account
- C. Cash account
- D. None of these
|
| 2 |
Acceptance received durinthe period must be debited to bills receivable account and credited to. |
- A. Total bills receivable account
- B. Total debtors account
- C. total cash account
- D. Total bills receivabel account
|
| 3 |
In case of dissolution, assets sold for cash are debited to. |
- A. Realization account
- B. Cash account
- C. Assets account
- D. None of these
|
| 4 |
In single entry system real accounts are not maintained so the preparation of, |
- A. Correctly
- B. Effectively
- C. Wrongly
- D. Approximately
|
| 5 |
Under single entry system sometimes, |
- A. Double aspects of a transaction are recorded
- B. Single aspect of a transaction is recorded
- C. No aspect of a transaction is recorded
- D. All of the above
|
| 6 |
Net worth is equal to, |
- A. Assets - Liabilities
- B. Liabilities - Assets
- C. Liabilities + Capital
- D. Capital + Assets
|
| 7 |
Single entry system is generally adopted by, |
- A. Small business concerns
- B. Large business concerns
- C. Medium business concerns
- D. All of the above
|
| 8 |
The figure of the bills receivable can be worked out from. |
- A. Total debtors account
- B. Total creditors account
- C. Trail balance
- D. Balance sheet
|
| 9 |
In single entry system ledger contains the accounts of, |
- A. Debtors, creditors and cash
- B. Wages and carriage
- C. Salaries and insurance
- D. Assets and liabilities
|
| 10 |
Closing capital in single entry system is calculated by preparing, |
- A. Opening statement of affairs
- B. Closing statement of affairs
- C. Opening balance sheet
- D. Closing balance sheet
|